Friday, November 27, 2009

Ex President

Actually, I am Past President of Monk Office.

I have been VP Finance for 20+ years and had moved into the President role for a 6 month term. It was fun and challenging. I was very involved with sales and with customers. Lots of wins with new customers, new sales, keeping existing customers and contracts.

Also, I spoke and met with unhappy customers. The formal complaint process at Monk Office includes a review of every complaint by the President. The issues are resolved before they come to me, but I see them all. I learned a lot more about what our customers expect from us. Now we will use what we learned to improve the customer experience. New customers are not beating down are doors to do business with us, even though our customer “satisfaction” survey ranks at over 90%.

Have you heard of a net promoter score? NPS is a measurement of customer loyalty. A high score means that customers are not just satisfied, but that they will also promote your business to others. Many satisfied customers are not promoters. And dissatisfied customers are detractors in that they may actually try to convince others not to do business with you.
Zappos, the on line shoe seller that was just bought out by Amazon for a cajillion dollars has a very high NPS. We are working on improving our score.

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